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Jim Cramer Points Out 24 Quality Stocks Down 40% or More


NEW YORK (TheStreet) -- There have been a lot of ups and downs this past week in the markets. And although broader markets have recovered somewhat, there are still many stocks which are down from their 52-week highs. Here are 24 stocks that are down 40% or more, pointed out by TheStreet's Jim Cramer.

As legendary investor Warren Buffett says, investors should be greedy when others are fearful and fearful when others are greedy. Now might be the time to be greedy with these steeply down stocks.

To give you added perspective on whether these stocks are good long-term investments, we've paired them with TheStreet Quant Ratings, TheStreet's proprietary quant-based stock-rating tool.

TheStreet Ratings projects a stock's total return potential over a 12-month period including both price appreciation and dividends. Based on 32 major data points, TheStreet Ratings uses a quantitative approach to rating over 4,300 stocks to predict return potential for the next year. The model is both objective, using elements such as volatility of past operating revenues, financial strength, and company cash flows, and subjective, including expected equities market returns, future interest rates, implied industry outlook and forecasted company earnings.

Buying an S&P 500 stock that TheStreet Ratings rated a buy yielded a 16.56% return in 2014, beating the S&P 500 Total Return Index by 304 basis points. Buying a Russell 2000 stock that TheStreet Ratings rated a buy...